Marshall CFO Honored as One of Region's Best Financial Stewards

Marshall CFO Honored as One of Region's Best Financial Stewards

July 31, 2017 —Marshall Chief Financial Officer Laurie Eldridge was among the 12 local CFOs honored at the Sacramento Business Journal’s Annual CFO Awards banquet earlier this month. Eldridge won in the category “Medium Company/Healthcare.”

An El Dorado County resident since 1980, Eldridge replaced current Marshall CEO James Whipple as CFO in 2003. She joined Marshall in 1990 and has held a number of positions during her tenure, including senior accountant and controller. When Whipple pursued the chief executive role, he asked Eldridge what her thoughts were about becoming Marshall’s top financial official.

“I thought he was crazy,” said Eldridge, a 1989 graduate of UC Davis and member of the Healthcare Financial Management Association (HFMA). “I thought to myself, ‘why would I want to do this? I have a young son at home and a family to balance with my work life? He subtly kept presenting things for me to think about and secretly mentoring me until I finally realized ‘hey, maybe I could actually do this job.’”

In the Business Journal’s 2016 Book of Lists (based on data from Fiscal Year 2014-15) Marshall ranked No. 7 in revenue among all private companies in the Sacramento region. The independent, nonprofit healthcare provider collected $969.5 million in revenue during 2014-15.

Marshall’s solid foundation exists in a decidedly unstable time for its peers. In 2009, the California Hospital Association (CHA) reported 69 independent acute care hospitals in the state. Six years later, the number had fallen to around 40.

The healthcare provider is El Dorado County third-largest employer (behind Red Hawk Casino and Blue Shield of California), according to the Business Journal.

Despite reduced government payments, Marshall maintains a financially conservative – but upwardly mobile – approach. Roughly 80 percent of Marshall’s patients are Medicare or Medi-Cal beneficiaries, according to the provider’s most recent annual report.

In November of last year, Marshall Hospital opened a state-of-the-art ICU, increasing facility’s bedcount from 113 to 125. Expansion in 2017 has included a new orthopedics/sports medicine clinic in El Dorado Hills and the addition of 11 full-time practitioners to Marshall clinics.

Marshall Medical Center is an independent, nonprofit community healthcare provider located in the heart of the Sierra Foothills. Marshall Medical Center includes Marshall Hospital, a fully accredited acute care facility with 125 beds in Placerville; several outpatient facilities in Cameron Park, El Dorado Hills and Georgetown; and many community health and education programs. Marshall has more than 200 physicians and 1,500 employees providing quality healthcare services to more than 180,000 residents of El Dorado County.

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